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RERA is a part of Dubai Land Resources Department. The agency has its own financial and administrative independence with full legal authority to regulate the real estate sector in Dubai. RERA provides transparence and effectiveness of legal framework , when everyone involved in the property market can conduct a business.
According to the Dubai Land Department, the total value of real estate transactions in Dubai in 2021 was AED 155 billion ($42.2 billion). The department also reported that there were 49,862 real estate transactions in Dubai in 2021, with 33,337 of these being sales transactions.
There are more than 20 Free Zones operating in Dubai, which include the following: Dubai Airport Free Zone [7]; Dubai Design District [8]; Dubai Healthcare City [9]; Dubai International Academic City [10]
Dubai Municipality (Arabic: بلدية دبي) is the Government of Dubai municipal body with jurisdiction over city services and the upkeep of facilities in the Emirate of Dubai, United Arab Emirates and reports directly to the Dubai Executive Council. [1]
Director-General of the Dubai Department of Tourism and Commerce Marketing and CEO of the Dubai World Trade Centre. 17 His Excellency Dr. Hamad Bin Al Sheikh Ahmed Al Shaibani Council Member Director General of the Islamic Affairs and Charitable Activities Department. 18 His Excellency Sultan Butti Bin Mejren Council Member
A major benefit of registering properties with this Simsari is that it will limit the number of ghost listings in Dubai. It is a common practice of real estate property sellers to list a single property with several brokerage firms with different prices; after registering with Simsari, every real estate agency or agent can is limited to listing each property with three property management firms.
Dubailand was an entertainment complex planned to be built in Dubai, United Arab Emirates, which was owned by Tatweer (which belongs to Dubai Holding). When announced in 2003 it was one of the most ambitious leisure developments ever proposed anywhere in the world costing $64.3 billion. [ 1 ]
One notable difference is the number of cash buyers compared to those in previous years who borrowed heavily. Part of the reason for the current cash surge is the influx of investment from troubled countries. [40] In September 2013, the Dubai Land Department increased property transfer fees from 2 to 4%. [41]